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Related papers: Entropy for a class of micro-economic models

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The theory of thermal macroeconomics (TM) analyses economic phenomena within the mathematical framework of classical thermodynamics, using a set of axioms that apply to the purely macroscopic aspects of an economy [CM]. The theory shows…

General Economics · Economics 2026-03-12 Yihang Luo , Robert S. MacKay , Nick Chater

Many recent models of trade dynamics use the simple idea of wealth exchanges among economic agents in order to obtain a stable or equilibrium distribution of wealth among the agents. In particular, a plain analogy compares the wealth in a…

General Finance · Quantitative Finance 2015-05-30 J. R. Iglesias , R. M. C. de Almeida

Entropy might be a not well defined concept if the system can undergo transformations involving stationary nonequilibria. It might be analogous to the heat content (once called ``caloric'') in transformations that are not isochoric (i.e.…

Statistical Mechanics · Physics 2007-05-23 Giovanni Gallavotti

Entropy is a very useful concept from physics that tries to explain how a system behaves from a point of view of the thermodynamics. However, there are two ways to explain entropy, and it depends on if we are studying a microsystem or a…

General Finance · Quantitative Finance 2024-07-02 Martin Pomares Calero

The extension of thermodynamic principles to active matter remains a challenge due to the non-equilibrium nature inherent to active systems. In this study, we introduce a framework to assess entropy in our minimal macroscopic experiment…

Soft Condensed Matter · Physics 2024-09-26 Francesco Romanò , Michael Riedl

We use rigorous non-equilibrium thermodynamic arguments to prove (i) the residual entropy of any system is bounded below by the experimentally (calorimetrically) determined absolute temperature entropy, which itself is bounded below by the…

Statistical Mechanics · Physics 2011-06-13 P. D. Gujrati

In our derivation of the second law of thermodynamics from the relation of adiabatic accessibility of equilibrium states we stressed the importance of being able to scale a system's size without changing its intrinsic properties. This…

Mathematical Physics · Physics 2015-06-19 Elliott H. Lieb , Jakob Yngvason

Entropy is one of the key thermodynamic variables reflecting changes in the state of matter. Unlike other thermodynamic variables, it is well-defined also for nonequilibrium steady states through its relation to information. Applying this…

Statistical Mechanics · Physics 2026-04-15 Haim Diamant , Gil Ariel

The theory of entropy production in nonequilibrium, Hamiltonian systems, previously described for steady states using partitions of phase space, is here extended to time dependent systems relaxing to equilibrium. We illustrate the main…

Chaotic Dynamics · Physics 2009-10-31 T. Gilbert , J. R. Dorfman , P. Gaspard

Firstly, we calculate quantitatively decrease of entropy by the known formulas in the ordering phenomena and nucleation of thermodynamics of microstructure. They show again that a necessary condition of decrease of entropy in isolated…

General Physics · Physics 2009-05-04 Yi-Fang Chang

The second law of nonequilibrium thermodynamics within the open system paradigm (a small system coupled to one or multiple baths) is derived. This is done by showing positivity of entropy production for arbitrary Hamiltonian dynamics for a…

Statistical Mechanics · Physics 2020-08-28 Philipp Strasberg

From a new rigorous formulation of the general axiomatic foundations of thermodynamics we derive an operational definition of entropy that responds to the emergent need in many technological frameworks to understand and deploy thermodynamic…

Mathematical Physics · Physics 2014-11-21 Gian Paolo Beretta , Enzo Zanchini

Quantum many-body states that frequently appear in physics often obey an entropy scaling law, meaning that an entanglement entropy of a subsystem can be expressed as a sum of terms that scale linearly with its volume and area, plus a…

Quantum Physics · Physics 2021-05-26 Isaac H. Kim

We develop a statistical framework for wealth allocation in which agents hold discrete units of wealth and macrostates are defined by how wealth is distributed across agents. The structure of the economic state space is characterized…

Physics and Society · Physics 2026-02-04 Korak Biswas

The selection of an equilibrium state by maximising the entropy of a system, subject to certain constraints, is often powerfully motivated as an exercise in logical inference, a procedure where conclusions are reached on the basis of…

Statistical Mechanics · Physics 2015-12-03 Ian J. Ford

Entropy can signify different things: For instance, heat transfer in thermodynamics or a measure of information in data analysis. Many entropies have been introduced and it can be difficult to ascertain their different importance and…

Mathematical Physics · Physics 2025-07-10 Henrik Jeldtoft Jensen , Piergiulio Tempesta

The paper examines and critiques the expression of entropy as the logarithm of the number of quantum states of a physical system. Boltzmann method of expressing entropy as the logarithm of the number of states of a gas with a given total…

General Physics · Physics 2026-02-09 Maria Polski , Vladimir Skrebnev

Consider a state of a system with several subsystems. The entropies of the reduced state on different subsystems obey certain inequalities, provided there is an equivalence relation, and a function measuring volumes or weights of…

Mathematical Physics · Physics 2009-11-07 Bernhard Baumgartner

The fundamental assumption of statistical mechanics is that the system is equally likely in any of the accessible microstates. Based on this assumption, the Boltzmann distribution is derived and the full theory of statistical thermodynamics…

Quantum Physics · Physics 2015-05-18 X. L. Huang , B. Cui , X. X. Yi

A first principles analysis of an open system thermodynamical Carnot cycle is provided, and the results are compared to those proposed by Gibbs for open systems. The Kelvin-Clausius statement concerning heat transfer for reversible cycles…

General Mathematics · Mathematics 2007-05-23 Christopher G. Jesudason
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